The concept of crowd funding is a very exciting proposition – especially when you look at the inherent purpose behind the idea. For those who do not understand the concept, Crowd funding is a practice of funding ideas (project) by pooling (usually) small amounts of donations from large groups of people (aka “crowds”) through the internet. I am not here to lecture about Crowd funding, but to talk about a discrimination article I came across on Mashable .
Intrigued (as usual when it concerns discrimination in any form), I read the article and followed up on the website blackcrowdfunding.net, intending to lend my support in any way I could. I navigated to the website, and checked out the BlackCrowdFunding tab which has the “prior campaigns” page – now, prior campaigns shows you various ideas, how much is required for these ideas to be actualized and how much have been raised. I am usually intrigued by the “ideas” part. I was looking forward to seeing what great ideas/concepts that the African –American intellectuals have put forward for funding.
What i saw on the page was a let-down. I expected to see ideas/concepts in the Arts, Design, Engineering and Technology; instead, the page was littered with (often over-used) charity based pleas. I said to myself, “I cannot give my money to fund any of these projects”. “No one (in their right minds) would want to give to these listed projects.”
A simple visit to Kickstarter and Indiegogo should pass my point across, even the Latino based Crowdismo has a better feel to it. All these sites have lots of innovation, ideas and creativity embedded in them that you will need self-discipline to exit their sites without committing yourself financially to one of their projects.
Everyone wants to be part of an innovation (some of these sites demand as low as $10 to support a project) which makes it easy to crowd fund. All you need is a great idea out there and you will attract money, but folks do not want to support an idea that looks and feel like a charity when they already are giving to charities.
Irrespective of the hurdles of the (maybe) divisive name (blackcrowdfunding.net) and society at large, the key to securing funding (whether crowd funded or bank funded) is to have a great idea and concrete steps to make it applicable commercially. If you have a great idea, people would come running to you; the ideas displayed on blackcrowdfunding.net cannot cut it in the immensely competitive business world.
-Footnote: Not all projects on these other sites listed get funded or meet their monetary targets, neither am I insinuating that all ideas on these sites are perfect (some are plain ridiculous and to be sincere, over-reaching) but my piece is in response to the Mashable article as it concerns the lack of funding for the projects listed on Minority based crowd funding sites.